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Dec 19, 2012
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thanks, bob. see you later. >>> something called a wealth management product has gone bust in china, making headlines across the country and leading to protests outside a bank in shanghai. is this the canary in the coal mine for a chinese banking crisis? our michelle michelle caruso-cabrera is here with more. >> we're absolutely raising a red flag about a potential blowup within the chinese banking system. a financial product sold to investors in shanghai last year which was supposed to pay interest between 11% and 13% in one year, when it came due in late november, investors got zero, nothing. they lost both principle and interest. $22.5 million worth in total. the money was supposed to be invested in a pawnshop, two car dealershi dealerships, and entertainment venue. the investors who claimed they were told the product was risk free protested in front of the bank for days. those protests made headlines across the country. analysts believe this is the first time this type of product known as a we
thanks, bob. see you later. >>> something called a wealth management product has gone bust in china, making headlines across the country and leading to protests outside a bank in shanghai. is this the canary in the coal mine for a chinese banking crisis? our michelle michelle caruso-cabrera is here with more. >> we're absolutely raising a red flag about a potential blowup within the chinese banking system. a financial product sold to investors in shanghai last year which was...
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Dec 21, 2012
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i have the exact guest we need today, tennessee senator bob corker. welcome, bob corker. i want to start out with a little bit here, know your players. when i go to a game i buy a program so you know the players. but misrepresenting the outcome of the election, listen, the president, more on social issues, the people of this country are concerned about deficits too. there was no mistake the power still remains to the fiscal conservatives in the house. by dismissing the fact that when you spend $3.8 trillion and it results in going to be four years running of over $1 trillion deficits, to talk about $70 billion of savings or deficit reduction by taxing the upper 2%, the 7% nonsolution, well, they didn't take them serious. the media spins it and this is what happens. i'm not surprised by the vote, senator. are you? >> republicans are unified wanting to reduce spending and especially focus on entitlement reform. so it is amazing, rick, in a country as great as ours where every developed country in the world knows our greatest threat is solvency, fiscal solvency, that we have
i have the exact guest we need today, tennessee senator bob corker. welcome, bob corker. i want to start out with a little bit here, know your players. when i go to a game i buy a program so you know the players. but misrepresenting the outcome of the election, listen, the president, more on social issues, the people of this country are concerned about deficits too. there was no mistake the power still remains to the fiscal conservatives in the house. by dismissing the fact that when you spend...
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Dec 4, 2012
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we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous demand. home tremendous demand. can these do well even if we go over the cliff. momentum here was so amazing. we all know if they go over the cliff, payroll tax, you'll see less in your check. this toll brothers, you buy $500,000 houses. people are buying them like they haven't in five years, six years. >> a comment on five weeks into their first quarter, net signed contracts up 34%. for the previous quarter, a quarter over quarter, up 60%. at some point these numbers are going to flatten out, right? >> yes. we had a tremendous contraction in
we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous demand. home...
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Dec 20, 2012
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>> bob, these are very good numbers. again, a clear indication that we are in the early stage of a housing recovery. they are very, very strong numbers. >> particular lynn ceased with the increases home but study home price. still something like 10 million homes under water, they have more on the mortgage than the home is worth, but this has got to be very helpful. eventually the 10 million homes come down, continue to see the price increases. is that correct? >> that's correct. in fact, in core logic, a data service for real estate, in their september report, they indicated a 5% increase in sales price would relieve 2 million homeowners of that negative equity position. presumably, those 2 million home owners can come back into the market as inventory, indicated by danni idiana, a natural part correction process earthquake not a surprise to us. demand is outstripping supply and price is responding to that. so, this is as it should be if you are in early stage recovery which we strongly r. >>> a modest rise in prices, ri
>> bob, these are very good numbers. again, a clear indication that we are in the early stage of a housing recovery. they are very, very strong numbers. >> particular lynn ceased with the increases home but study home price. still something like 10 million homes under water, they have more on the mortgage than the home is worth, but this has got to be very helpful. eventually the 10 million homes come down, continue to see the price increases. is that correct? >> that's...
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Dec 11, 2012
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and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring both sides of the aisle to sit down together. congressman sander levin is a ranking member of the house ways and means committee. and a republican from new jersey, the vice chairman of the house budget committee and a member of the house financial services committee. gentlemen, thank you both for being here. >> thank you. >> we just sat down with senators conrad and corker. they seem to agree on a lot of areas. one of those areas is they think we need to negotiate up from this point, not down from this point and cut some sort of a deal that is 4 trillion or greater when you add up the tax increases. congressman levin, would you agree with that, going up n
and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring both sides of the aisle to sit down together. congressman sander levin is a ranking member of the house ways...
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Dec 18, 2012
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bob just talked about it. you can debate whether the ministry of defense and bank of japan are at odds with each other. carl, back to you. >> rick, thank you so much for that. rick santelli in chicago. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the d
bob just talked about it. you can debate whether the ministry of defense and bank of japan are at odds with each other. carl, back to you. >> rick, thank you so much for that. rick santelli in chicago. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of...
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Dec 12, 2012
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bob, there's been talk that berkshire quietly acoming a big stake in avida. that's now 13%. maybe it has other intentions in terms of ownership with that company. >> significant speculation just from what the news pending is. we don't know what it is. but i want to note, melissa, berkshire class a and class b shares are both halted news pending. the crowd is just sort of standing around here with orders to buy or sell, waiting to find out exactly what the news is going to be. you'll notice we're up again today. the sixth day in a row the dow industrials are up. optimism on the fiscal cliff being resolved. i'll tell you this, somebody's very wrong about 2013, because there's two camps that are quite at odds with each other right now. the first one i've been telling you about, it's been quat bearish on this. that the fiscal cliff will be a headwind for stocks. that this represents the start of a new american austerity, that higher taxes, lower spending is not bullish for the stock market in 2013. this group has been arguing, i've been saying this for two weeks, what this group
bob, there's been talk that berkshire quietly acoming a big stake in avida. that's now 13%. maybe it has other intentions in terms of ownership with that company. >> significant speculation just from what the news pending is. we don't know what it is. but i want to note, melissa, berkshire class a and class b shares are both halted news pending. the crowd is just sort of standing around here with orders to buy or sell, waiting to find out exactly what the news is going to be. you'll...
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Dec 26, 2012
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bob passani still nursing a little bit of a sore throat. he's a tooper. >>> let's get to the retailers. >> this is an unbelievable stat. not news based. i like stats. right now 16 of the 17 worst performers in the s&p 500 are retailers. you've got coach is the single worst performer. tell labs the second worth performer and is the only nonretailer in that worst 17 names. you've got sears, raffle lauren, the gap, macy's, office depot. a number more. we talk about concern about fiscal cliff, weather. you know, rabid wolverine. whatever the issue is, retailers getting absolutely walloped today, although most of these names are still significantly higher on the year. not a good day for the retailers. >> no. it's amazing how many lead the loser board. >>> five days until we look over the very sharp edge of the fiscal cliff. so far this is about the level of consensus that we've reached. >> the fiscal cliff, yes, it is still looming if you're out there wondering. >> i think we could be taken to the brink again. >> the market is now responding to
bob passani still nursing a little bit of a sore throat. he's a tooper. >>> let's get to the retailers. >> this is an unbelievable stat. not news based. i like stats. right now 16 of the 17 worst performers in the s&p 500 are retailers. you've got coach is the single worst performer. tell labs the second worth performer and is the only nonretailer in that worst 17 names. you've got sears, raffle lauren, the gap, macy's, office depot. a number more. we talk about concern about...
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Dec 31, 2012
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here's bob corker. >> i do think there's going to be a resolve to this. the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. >> so the question is going to be then, do the tough decisions on spending get made in january and february, running up to the debt limit. we'll see how that goes. we'll see if it actually gets done today. you hear positive things from talk, but you can't trust anything until reid and mcconnell come out on the senate floor and say they have a deal. and then boehner puts it on the house floor. >> it's interesting now, that mcconnell has reached out to the vice president and is doing a deal, specifically that way, rather than involving it would appear at this stage the democrats in the senate. are they now more fractious in actually passing a deal potentially from the gop in the house? >> no. i think it is just dynamics of late-stage negotiations that when you get to the really hard parts, you've got to go higher and higher up the food chain to get people willing
here's bob corker. >> i do think there's going to be a resolve to this. the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. >> so the question is going to be then, do the tough decisions on spending get made in january and february, running up to the debt limit. we'll see how that goes. we'll see if it actually gets done today. you hear positive things from talk, but you can't trust anything until reid and...
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Dec 13, 2012
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. >> bob pisani is here this morning more on what's moving. hey, bob? >> let you know about an ipo pricing down here, pbf energy here operation 20.5 million shares at 26. this looks ready to open at 28. the book is frozen right now so that means that the -- the specialist you can the dmm here has indicated the final price is in, it looks like pbf is going to open right now at $28, one of two ipos down that are priced today, solarcity pricing over on the nasdaq that is not yet open. get to more on that shortly. guys, mentioning when will the bond bubble burr president? big topic overnight that i was getting, at least. the feds actually yesterday, yields spiking up, reignited this debate. remember, this was the big call at this time last year, 2012, the year the bond bubble burst. by the way, it hasn't abated. it has continued into the fourth quarter of this year, despite other people's predictions. seen continue outflows in stock mutual funds, the call for 2012 the wrong call, reignited, you mentioned ray dal yo, dave rubenstein talked about how the next
. >> bob pisani is here this morning more on what's moving. hey, bob? >> let you know about an ipo pricing down here, pbf energy here operation 20.5 million shares at 26. this looks ready to open at 28. the book is frozen right now so that means that the -- the specialist you can the dmm here has indicated the final price is in, it looks like pbf is going to open right now at $28, one of two ipos down that are priced today, solarcity pricing over on the nasdaq that is not yet open....
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Dec 3, 2012
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thanks, bob. bob pisani. >>> verisign getting a lift today, mary thompson is at hq. >> a turn around for the stock that fell last week. the reason, the government did renew its contract, allowing it to keep its status as the internet registry. the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a result we have seen a turn-around in today's session, up more than 6%. back to you. >> ocekay, thanks mary. >>> fitch is out with its latest ratings on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff. >>> later, if you own a car but never drive it, you might be able to make some money off it. ashton kutcher and marissa mayer are backing the start up. the ceo of get-around is coming up. gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 ye
thanks, bob. bob pisani. >>> verisign getting a lift today, mary thompson is at hq. >> a turn around for the stock that fell last week. the reason, the government did renew its contract, allowing it to keep its status as the internet registry. the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a...
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Dec 7, 2012
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bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque and basically walked off on the press conference very quickly. good reason to be frustrated. let me give you some of the highlights of what a lot of people are talking about here. forget everything. don't go over the fiscal cliff but pass a simple tax bill. what would it entail? expend the tax cuts to those making under $250,000. increase taxes on dividends and capital gains to 23.6%. number three, know estate tax, payroll tax cut, unemployment benefits extension. basically strip everything out. no delay in sequestration. does this look like it would satisfy wall street? i don't think so. remember two essential points. it's got to be done before the end of the year and
bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque and basically walked off on the press conference very quickly. good reason to be frustrated. let me give you some of the highlights of what a...
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Dec 17, 2012
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some other numbers on wednesday. >> bob, thanks a lot. bob pisani. kayla tausche has the market flash. >> carl, we've been back and forth about whether the reception of the iphone 5 in china is going to be good or bad. some checks on friday said it was muted. that led suppliers down. we're seeing them see some relief from that pressure. today may be a correction from that downtrade on friday. qualcomm one of the best trades today, also skyworks solutions. also favorable moves for avago and cirrus logic. >> the likes of fedex, oracle and rim reporting results. what do you need to know before the results come out? let's bring in christine short, senior managing of s&p capital iq. >> great to see you, thank you. >> what's amazing is the -- how the expectations for income or earnings have come down just since october 1st, right? >> right. and you're right. they've completely cratered. if you recall back during the third quarter earnings season, when we entered the season, we were seeing third quarter estimates were negative. we were looking at fourth qua
some other numbers on wednesday. >> bob, thanks a lot. bob pisani. kayla tausche has the market flash. >> carl, we've been back and forth about whether the reception of the iphone 5 in china is going to be good or bad. some checks on friday said it was muted. that led suppliers down. we're seeing them see some relief from that pressure. today may be a correction from that downtrade on friday. qualcomm one of the best trades today, also skyworks solutions. also favorable moves for...
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Dec 10, 2012
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bob corker will join us yet. will we go over the fiscal cliff. >> plus, apple official lofficit weekly loss since 2010. we're going to get your technical analysis still ahead. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. for over 60,000 california foster children, the holidays can be an especially d
bob corker will join us yet. will we go over the fiscal cliff. >> plus, apple official lofficit weekly loss since 2010. we're going to get your technical analysis still ahead. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but...
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Dec 6, 2012
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i don't think that we want to have a movie someday called the road to the weimar republic because bob hope was in the old movies. there's no hope in that new movie and i think this issue really has to be discussed. now i understand there's issues about compromise and everybody has heard that the president and the democrats won the white house. i understand that but the debt ceiling is a serious issue. as nasty as it might be and credit ratings might change based on the dynamics of how this perpetuates itself when we hit the debt ceiling probably in the next eight to nine weeks but truly congress has to have some say-so in this and the people that put those people in congress have huge opinions and finally, i say less m&a on the government side and yes, i'm not talking about mergers and acquisitions, i'm talking about our money addiction. carl? back to you. >> jim, on demint, what does it mean for the party, can he be more powerful outside the senate than inside? >> i think mr. demint is the perfect guy to run the foundation. when we talk tea party there isn't a bona fide leader, it's
i don't think that we want to have a movie someday called the road to the weimar republic because bob hope was in the old movies. there's no hope in that new movie and i think this issue really has to be discussed. now i understand there's issues about compromise and everybody has heard that the president and the democrats won the white house. i understand that but the debt ceiling is a serious issue. as nasty as it might be and credit ratings might change based on the dynamics of how this...
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Dec 5, 2012
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. >>> let's check in with bob on that note. hey, bob. >> china. finally something from the leadership. we have been waiting for weeks, months, remember, everyone has been waiting for them to try to find where their desks are and find out where they can live and where they can stay and sit down and get used to the furniture and look around and say what are we going to do with the economy. we've been waiting no comment. we got comment from the party chief who made a speech in beijing and talked about what was going on. he used words like expanding domestic demand. used words like supporting urbanization. this is what everyone wanted to hear. those are buzz words. those are code words for stimulus. that's what the market is reacting to today. 2% move up in china in shanghai and even hong kong stocks. they moved together. this hasn't happened in a long, long time here. the bottom line is we're finally starting to hear from the leadership. they found their offices and things are starting to move and that is certainly very, very good news because now th
. >>> let's check in with bob on that note. hey, bob. >> china. finally something from the leadership. we have been waiting for weeks, months, remember, everyone has been waiting for them to try to find where their desks are and find out where they can live and where they can stay and sit down and get used to the furniture and look around and say what are we going to do with the economy. we've been waiting no comment. we got comment from the party chief who made a speech in...
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Dec 24, 2012
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we did, bob. we did. got it. >>> if you notice unusual trades happening today, it might be because of those gentlemen. >> and ladies. >> they'll ring the opening bell. >> we'll tell you more about that in a couple of minutes. in the meantime -- >> they are gentlemen. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the
we did, bob. we did. got it. >>> if you notice unusual trades happening today, it might be because of those gentlemen. >> and ladies. >> they'll ring the opening bell. >> we'll tell you more about that in a couple of minutes. in the meantime -- >> they are gentlemen. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson...
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Dec 27, 2012
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we did, bob. we did. got it. >>> as winter storms delay flights home this holiday season, one app is looking to make travel a little smother, website nerd wallet. leading the travel products under the brand name. alishia, good morning to you. >> good morning. >> a product like this makes so much sense, at least to me. as people travel, it seems like the main source of frustration has to be the airport itself. is that borne out in the data? >> yes. that is exactly the premise we started to develop the app. we realized the air travel situation is really difficult. airfares are difficult. when we thought about what do you spend the most time doing, it's really getting to and from the airport, spending time in the airport before your flight. >> a lot of this has to do with comparing parking prices, if you want to find a duncan, want to know where there's wifi, how many airports is international and are there features i'm not listing? >> right now, we initially launched it, get something out for the holiday tr
we did, bob. we did. got it. >>> as winter storms delay flights home this holiday season, one app is looking to make travel a little smother, website nerd wallet. leading the travel products under the brand name. alishia, good morning to you. >> good morning. >> a product like this makes so much sense, at least to me. as people travel, it seems like the main source of frustration has to be the airport itself. is that borne out in the data? >> yes. that is exactly the...
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Dec 28, 2012
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we did, bob. we did. got it. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back to "squawk on the street." a little bit of breaking news here regarding a potential strike at the ports. the parties have reached an agreement here. this is according to the deputy director for mediation services. it looks like it is going to be an additional extension of 30 days to work on some of the issues that they're dealing with. the container royalty payment was really the issue at stake. that has been agreed upon in principle by the parties subject to achieving an overall collective bargaining agreement. it looks like we'll have
we did, bob. we did. got it. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind....
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Dec 14, 2012
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. >>> let's check with mary thompson, on the floor in for bob pisani today. >> weakness across the board. weakness in the nasdaq, down about 20 points. the dow lost in early trade. a little more modest in the s&p, down 4.25%. traders saying the fiscal cliff headlines will continue to dictate trading. and here there was a little reaction in the futures market ahead of today's opening bell on the data and the better than expected production numbers. overseas, last night we did have some more bad news out of japan with business sentiment there weakening. as melissa was mentioning earlier, positive news on the manufacturing front in china. that's giving a lift, as she pointed out, to a number of mining stocks. while it's also giving a lift to energy, or to oil prices this morning, i should point out, some of the big name oil companies were a little bit lower in early trading, again, those being exxon as well as chevron. the traders said the bid in the market remains strong despite concerns about the fiscal cliff in large part because the investors remain positive going into 2013. this is the
. >>> let's check with mary thompson, on the floor in for bob pisani today. >> weakness across the board. weakness in the nasdaq, down about 20 points. the dow lost in early trade. a little more modest in the s&p, down 4.25%. traders saying the fiscal cliff headlines will continue to dictate trading. and here there was a little reaction in the futures market ahead of today's opening bell on the data and the better than expected production numbers. overseas, last night we did...